I’m old and lucky enough that most of my working life took place when large U.S. enterprises usually made long-term commitments, albeit often rather vague, to their competent workers. If a recession hit, senior executives would grit their teeth and try to hang on to their employees. Back when I was a business editor at The Wall Street Journal, the International Herald Tribune and elsewhere, Fortune 500 senior executives’ commitment to their fellow employees often impressed me. Not much anymore!

There was something like two-way loyalty, and the top people often showed a certain sensitivity about public perceptions of their compensation.

Now the idea is to maximize short-term profit and stock price and thus senior execs’ and board members’ compensation above all else. I have seen that in some sectors where managements that used to be satisfied with 15 percent profit margins raised them to over 30 percent. And CEOs now make on average over 300 times the average pay of their employees, compared to 20 times in 1965!

Thus many companies refuse to spend money on long-term investments, such as employee training: While such outlays strengthen companies in the long haul, they cut into short-term net income. So train yourself – you may well be laid off next month anyway.

Then there’s the rise of the “gig economy,’’ in which “on-call’’ workers, “permatemp workers,’’ “independent contractors’’ and people employed by such contract firms as Manpower comprise an ever larger share of the workforce.

The Wall Street Journal reports that these days 17 percent of women and 15 percent of men have such “alternative employment.’’ Such jobs are up by more than half from 2005. (See ‘’’Gig’ Economy Spreads Broadly,’’ WSJ March 26-27).

These positions, with their very unpredictable hours, pay lower wages than regular jobs and offer few if any fringe benefits. They are spreading rapidly across more sectors, such as law and healthcare, pulled by computerization and globalization. They have long been particularly common in higher education, which depends on low-paid adjunct teachers to offset the cost of almost-impossible-to-fire tenured professors, with their high salaries and big benefits.

Employers obviously need flexibility to adjust their staffing levels. But when they reduce the ranks of their full-time employees beyond a certain point to keep short-term profit margins and senior executive pay sky high, they risk undermining the viability of their enterprises by destroying the institutional memory and employee morale and loyalty needed formost enterprises’ long-term success.

Short-termism usually triumphs. CEOs don’t expect to have their jobs very long; thus they want to accelerate their compensation.

Meanwhile, the economy as a whole tends to stay in a low-growth pattern as the purchasing power of most people shrinks and national wealth is increasingly concentrated in a tiny group whose members can perpetuate their (and their children’s) power with the aid of cash (and later, lobbying and other jobs) for politicians in return for favorable policies.

We’ll see a revival of private-sector unionization as more workers see that as the only way to obtain a modicum of economic security. We’ll also see an increasing number of economically insecure Americans following the siren song of such con men as Donald Trump and such presumably sincere but wrong-headed reformers as Bernie Sanders who don’t understand the need to encourage the “animal spirits’’ of entrepreneurism; Mr. Sanders has never had a job in business. There are reasonably centrist policies that can make things better, such as adjustments in the tax code and labor regulations.

None of this is to say that “contingent’’ and/or freelance employment can’t work well for some people. I myself have enjoyed some of its flexibility as a partner in a couple of small businesses. But you can’t build a strong economy on it.

xxx

Post-Brussels, President Obama and some other sensitive souls continue to avoid saying “Islamic’’ before “terrorism’’. They’re being intellectually dishonest. Islam (mostly its Sunni side) has big problems, the worst being that too many of its emotionally needyfollowers adhere to the 7th Century barbarism and supremacism in some of its scripture. Islam needs a reformation.

Robert Whitcomb (rwhitcomb51@gmail.com) is a Providence-based editor and writer and overseer of this site.

"Shippwrekked (BR15-108'') (acrylic on fabric), by Brent Ridge, in show "Liz Gargas and Brent Ridge,'' at the New Art Center, Newton, Mass., March 4-April 10. The gallery says that Mr. Ridge "operates in a land of abstraction rooted in appropriation, landscape, and post-industrial aesthetics''

"Smoke" by Lisa Oppenheim

"Smoke'' (installation view, two-channel video, looped), by LISA OPPENHEIM, in the "Film as Medium and Metaphor'' show at the Massachusetts Museum of Contemporary Art, North Adams, Mass.

"The parody trailer by comedy network Above Average explores a world in which the dedicated Spotlight team finishes their work on sexual abuse in the Catholic church and investigates what else is wrong with Boston: everything."

Newport

'Better Angels: Firefighters of 9/11,' by Dawn Howkinson

'Better Angels: Firefighters of 9/11,' by Dawn Howkinson Siebel, at the Wood Museum, Springfield, Mass through July 10, 2016

Her work features 343 portraits, one for every New York City firefighter lost in the attacks on the World Trade Center. The images are along a 21-foot-long wall, allowing visitors to come face to face with men who made a living out of risking their own in order to save others.

"Saturday, March 21 (1965). Afternoon. Taken on my arrival in Selma {Ala, at the Brown Chapel area," by JAMES H. BARKER

"Saturday, March 21 {1965}. Afternoon. Taken on my arrival in Selma {Ala.}, at the Brown Chapel area," by JAMES H. BARKER, in the show "Through the Lens of History: Selma & Civil Rights,'' Grand Circle Gallery, Boston, through January.

"Consumable Sugarhouse,''

"Consumable Sugarhouse,'' in Norwich, Vt.

“A sap run is the sweet good-bye of winter”

"Window 60 Autumn,'' by Maira Reinbergs

"Window 60 Autumn,'' by Maira Reinbergs in the "Color Passages'' show at ArtProv gallery, Providence, through Feb. 17.

"Hydrogen 1,'' by Sarah Hulsey, in her show "Schemata"

"Hydrogen 1,'' by Sarah Hulsey, in her show "Schemata,'' at Chandler Gallery, Cambridge, Mass., through March 11.

An arrogant plutocrat for the masses; bees imperiled

How curious that middle- and lower-income Americans who feel with some justification that they have been treated with disdain by an increasingly arrogant and selfish plutocracy turn for leadership to a sleazy, arrogant and narcissistic member of the plutocracy.

"Frog Prince,'' by MAXFIELD PARRISH, at the show "The Power of Print,'' at the Currier Museum of Art, Manchester, N.H., through Jan. 10. Mr Parrish did much of his work in New England at the artists' colony in Cornish, N.H.

"Whale's Jaw, Dogtown,''

"Whale's Jaw, Dogtown,'' from the archives of the Cape Ann Museum, in Gloucester.

Mornings in Little Compton

by Lydia Davison Whitcomb

Mornings in Little Compton

by Lydia Davison Whitcomb

Colored Stone History

by Lydia Davison Whitcomb

"Unihemispheric Existence''

"Unihemispheric Existence'' (detail) (steel, wood, gallery wall), by WILSON HARDING LAWRENCE, in the show "Nuanced: open-endedness, capaciousness and other provocative conditions of making,'' at the Dedee Shattuck Gallery, Westport, Mass., through

"The Market Is a Snake,'' by MICHAEL YEFKO, in the show "Further on Down the Yellow Brick Road,'' at Hera Gallery, in Wakefield, R.I., through June 20. In it he explores "temporal aspects of geometry.''

"Physicality'' (photography, oil, narrative text and resin on panel), by SHERRY KARVER, in her show "Objects of Affection,'' at Lanoue Gallery, Boston, through Oct. 31.

"Dream Work of Thomas Street''

(acrylic on panel), by SHAWN KENNEY

"Karl with Honeybears"

"Karl with Honeybears'' (oil on canvas), by DAVID PETTIBONE, at the Corey Daniels Gallery,

"smoke"

"Smoke'' (installation view, two-channel video, looped), by LISA OPPENHEIM, in the "Film as Medium and Metaphor'' show at the Massachusetts Museum of Contemporary Art, North Adams, Mass.

"Elevation'' (acryllic on canvas), by Diane Novetsky, in her show 'EARTHSHIFTER

"Nero''

"Nero'' (Marquina marble), by PAUL BLOCH

"New Orleans Sketchbook, March 1-17, 2007, Lower Ninth Ward

"New Orleans Sketchbook, March 1-17, 2007, Lower Ninth Ward,'' by JEFFREY MARSHALL, in the show "Katrina Then and Now: Artists as Witness,'' through Oct. 10, at Gerald Cantor Art Gallery, College of the Holy Cross, Worcester.

"Siberia Imagined and Reimagined"

Photo in Krasnoskamensk, Russia, March 2006, by SERGEY MAXIMISHIN, in the show "Siberia Imagined and Reimagined,'' at the Museum of Russian Icons, Clinton, Mass., through Jan. 10.

"Arcology'' (detail; gouache and Lascaux acrylics on archival papers), by Ilona Anderson, in her show "Arcology,'' at Kingston Gallery, Boston.

"Resonance: book in time II''

"Resonance: book in time II'' show at Brickbottom Gallery, Somerville, Mass., Dec. 6-Jan. 16. It's a collection of individual and collaborative artists' books by Ann Forbush, Ania Gilmore and Annie Zeybekoglu.

"Civil Rights Marchers Walking from Selma to Montgomery, Alabama, on Monday, March 23, 1965,'' photo by JAMES BARKER, in the show "Through the Lens of History: Selma & Civil Rights at the Grand Circle Gallery,'' Boston, through January.